Ontario Teachers' Pension Plan, Toronto, delivered a net return of 4.8% for the year ended June 30.
Net assets totaled C$249.8 billion ($188.4 billion) as of June 30, up from C$242.5 billion one year prior said a news release Tuesday.
For the five- and 10-year periods ended June 30, OTPP returned annualized net returns of 7% and 8.6%, respectively.
OTPP had returned a net 8.3% for the year ended June 30, 2022.
"We saw positive returns across multiple asset classes including public and private equities, infrastructure, and credit over the course of the first six months of 2023," said Ziad Hindo, chief investment officer, in the news release.
As of June 30, the pension fund's asset allocation was 52% fixed income, 37% equity, 29% real assets, 18% inflation-sensitive strategies, 15% credit, 8% absolute-return strategies and -59% funding for investments.
"Funding for investments" includes term debt, including both short-term and long-term debt, bond repurchase agreements, implied funding from derivatives, unsecured funding, and liquidity reserves, according to footnotes in the release.
Within fixed income, the allocation comprised 48% bonds and 4% real-rate products; within equity, the allocation was 25% private equity, 9% public equity and 3% its Teachers' Venture Growth strategy. (Teachers' Venture Growth refers to late-stage venture and growth equity investments in cutting-edge technology companies, according to OTPP's website.)
Within inflation-sensitive strategies, the allocation was 9% commodities, 5% inflation-hedge assets and 4% natural resources.
Within real assets, the allocation comprised 17% infrastructure and 12% real estate.
Benchmark and asset class returns were not provided.
